Pan American Silver (NYSE:PAAS) Reaches New 12-Month High Following Analyst Upgrade

Shares of Pan American Silver Corp. (NYSE:PAAS) (TSE:PAAS) reached a new 52-week high during trading on Tuesday after Scotiabank raised their price target on the stock from $28.50 to $32.00. Scotiabank currently has a sector outperform rating on the stock. Pan American Silver traded as high as $27.66 and last traded at $27.40, with a volume of 500737 shares changing hands. The stock had previously closed at $27.18.

Several other brokerages also recently issued reports on PAAS. National Bankshares restated an “outperform” rating on shares of Pan American Silver in a research report on Wednesday, April 2nd. TD Securities downgraded shares of Pan American Silver from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $27.00 in a research note on Tuesday, March 11th. Royal Bank of Canada increased their price target on Pan American Silver from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, StockNews.com downgraded Pan American Silver from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Pan American Silver presently has an average rating of “Hold” and a consensus price target of $28.50.

Hedge Funds Weigh In On Pan American Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAAS. Norges Bank acquired a new position in Pan American Silver during the fourth quarter valued at approximately $91,916,000. Jupiter Asset Management Ltd. bought a new stake in Pan American Silver in the fourth quarter valued at approximately $24,083,000. Hsbc Holdings PLC boosted its stake in Pan American Silver by 661.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,307,617 shares of the basic materials company’s stock worth $26,300,000 after purchasing an additional 1,135,839 shares during the period. Renaissance Technologies LLC lifted its position in Pan American Silver by 110.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,498,246 shares of the basic materials company’s stock worth $30,295,000 after buying an additional 784,906 shares in the last quarter. Finally, Man Group plc grew its holdings in Pan American Silver by 381.7% during the fourth quarter. Man Group plc now owns 947,560 shares of the basic materials company’s stock worth $19,160,000 after purchasing an additional 750,858 shares during the period. 55.43% of the stock is currently owned by hedge funds and other institutional investors.

Pan American Silver Stock Performance

The stock’s 50-day simple moving average is $24.95 and its 200 day simple moving average is $23.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 0.96. The stock has a market capitalization of $10.14 billion, a P/E ratio of 87.47 and a beta of 1.06.

Pan American Silver (NYSE:PAAS) (TSE:PAAS) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $815.10 million for the quarter, compared to analysts’ expectations of $805.20 million. Pan American Silver had a return on equity of 6.14% and a net margin of 3.98%. Research analysts expect that Pan American Silver Corp. will post 1.26 EPS for the current fiscal year.

Pan American Silver Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, March 3rd. Pan American Silver’s dividend payout ratio (DPR) is presently 125.00%.

Pan American Silver Company Profile

Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of silver, gold, zinc, lead, and copper mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company was formerly known as Pan American Minerals Corp. and changed its name to Pan American Silver Corp.